But Trip Chowdhry, the managing director of equity research at Global Equities Research, told CNBC that the acquisition story around Twitter might not be over and 2017 could be the best year to take a punt.

"The start-up bubble will burst around March-April 2017 and that will cause valuations to collapse including that of Twitter," Chowdhry said via email on Monday.

"In 2017, getting a price of even $10 (for Twitter) will be difficult. In 2016, getting a price in the $20's is possible. If you are a potential acquirer, the best strategy is to wait and not over pay."

Chowdhry has been bearish on many of the new technology flotations from start-ups such as Nutanix which he called a "junk IPO (initial public offering). He is expecting these start-ups to see a valuation correction in 2017 which could flow through to Twitter.

Twitter shares closed 11.5 percent lower at $17.56 on Monday after news that bidders had walked away. Shares are down 43 percent over the past 12 months. If it was to hit $10 next year, this would represent a further 43 percent decline.

Currently the market capitalization of the company is $12.43 billion. At $10 per share, Twitter would be valued at just over $7 billion.